Fortune: Sosa's foundation is near bankruptcy

NEW YORK (AP) -- Sammy Sosa's charitable foundation in the Dominican Republic is near bankruptcy, and the Chicago Cubsout fielder has hardly given it any cash, Fortune magazine reports. <br><br>Sosa

Monday, April 3rd 2000, 12:00 am

By: News On 6

NEW YORK (AP) -- Sammy Sosa's charitable foundation in the Dominican Republic is near bankruptcy, and the Chicago Cubsout fielder has hardly given it any cash, Fortune magazine reports.

Sosa gave a building, appraised at $2.7 million, to the not-for-profit foundation, earning a federal tax deduction of at least $1 million, the magazine said.

While the magazine said there is no evidence Sosa has given the foundation a significant amount of cash, Fortune said Mark McGwire of the St. Louis Cardinals, his home-run rival, contributed $100,000.

The magazine said many tenants in the building, including Sosa's sisters, didn't pay rent. The sisters run a boutique, a disco and a beauty shop in the building, Fortune said.

Chase Kaufman, a member of the foundation's board, said he once bought Sosa's brother, Jose, a sports car with money from the foundation, according to the magazine.

The foundation is inoculating children, educating young mothers and providing dental care.

Adam Katz, one of Sosa's agents, told the magazine, "I can virtually assure you that there has been no impropriety."